SAP dumps mid-term targets, cuts 2020 view as coronavirus bites

SAPon Sunday cut its guidance for the year and abandoned its forecast that profitability would expand steadily over the medium term, saying coronavirus lockdowns would hit demand well into 2021.The German business software group, a leader in enterprise applications ranging from finance to supply-chain management, said in an ad-hoc release it was shifting strategy to accelerate its push into cloud computing.Separately, SAP also released third-quarter results showing a 4% decline in adjusted total